Rns...25 Jun 2010 11:03
RNS Number : 2453O
Ricmore Capital PLC
25 June 2010

For immediate release 25 June 2010 Ricmore Capital Plc ("Ricmore" or "the Company") (formerly Energy Asset Management Plc) Report and Accounts for the nine month period ended 31 December 2009 Change of Broker The Company is pleased to announce that the Report and Accounts for the nine month period ended 31 December 2009, extracts from which are set out below, have been posted to shareholders and are available on the website: www.ricmorecapital.co.uk In addition, the Company announces the appointment of Daniel Stewart & Company Plc as broker to Ricmore who replace Religare Capital Markets plc with immediate effect. Chairman's Statement Financial Results In the nine months to 31 December 2009 the Company made a loss after taxation of £31,636 (15 months ended 31 March 2009 - loss £3,289,636) representing a loss per share of 0.01p (2009 - loss 0.99p per share). The Company received the second tranche of deferred consideration arising out of the sale of Energy Assets Limited. The amount received was greater than that accrued for at 31 March 2009 and thus the extra funds received amounting to £75,714 are reported as a gain in these nine month financial statements to 31 December 2009. Following receipt of the initial and deferred consideration arising from the sale of Energy Assets Limited in January 2009, and after subsequent operating costs paid, cash balances amounted to some £943,000 at the end of December 2009. Suspension from trading on AIM As an investing company under the AIM Rules, Ricmore needed to have either substantially implemented its investment strategy or concluded a reverse takeover on or before 9 January 2010 or otherwise its shares would be suspended from trading on AIM. As the Company had not yet done so, the Company's shares were suspended on 11 January 2010. Should the Company have not substantially implemented its investment strategy or concluded a reverse takeover on or before 9 July 2010 it will be de-listed. Intended acquisition On 11 January 2010, the Board reported that it was actively considering a particular transaction and would report further to shareholders as and when appropriate. Since that date that transaction, a reverse acquisition, has been and is still being actively pursued. Accounting reference date In order to align the Company's accounting reference date to the accounting calendar of the intended acquisition, the Company
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